Riyadh – Sharikat Mubasher: Riyadh-based fintech and proptech startup Safqah Capital announced it has secured $15.2 million in a seed funding round, marking one of the largest pure equity seed deals in Saudi Arabia’s fintech sector. As per the company’s press release, the round was led by Shorooq, anb Seed Fund, and Rua Growth Fund, with participation from several regional and global investors, including Sharaka Capital, 500 Global, MEVP, Waad Invest, JOA Capital, and others.

Founded 18 months ago, Safqah focuses on helping small and medium-sized real estate developers access faster and more flexible financing. While large giga-projects dominate headlines, the company targets smaller developers who build much of the Kingdom’s housing and commercial supply but often struggle to secure bank funding.

Since its launch, Safqah has financed more than 70 real estate projects across Saudi Arabia, with a total project value exceeding $800 million. The company said it has recorded no defaults to date, with loans backed by high collateral and released in stages based on project progress.

Safqah offers Shariah-compliant debt financing and is licensed by the Capital Market Authority (CMA) to arrange and enable investment in debt instruments. Its digital platform combines financing, project monitoring, and documentation in one system.

The newly raised funds will be used to expand Safqah’s financing capacity, improve its digital platform, and develop AI tools to strengthen risk assessment and project oversight, as demand from developers continues to grow in line with Vision 2030’s real estate goals.